Q2 losses erode Cincinnati Financial ILS deductible

An active second quarter for storm losses has put Cincinnati
Financial closer to being able to claim reinsurance cover from an
$80mn cat bond layer, but losses are still well short of the
deal's trigger.
There is a $190mn deductible on the Skyline Re bond's storm
reinsurance layer.
After the first quarter, three notable storms had eroded $86mn
of the aggregate deductible. This number moved up more slowly in
the second quarter to reach $119mn from a total of nine...